The Maltese region is famous not only for its natural and architectural treasures. It’s much more about safe living and business opportunities. Of course, it’s nice when heritage allows one to settle permanently in a place of paradise.
But most often, those wishing to move do not have family ties with the Maltese inhabitants. In this case, getting a second passport is possible through long-term residency or contributions to the nation’s economy.
How to obtain Permanent Residence in Malta
To receive Malta permanent residency, one must live in the country for at least 180 days per year for five years. After that, one can apply for Malta citizenship.
In addition, the island has a program that allows one to get special status within a year. To do so, it is required to:
- invest 250,000 euros, of which at least 80,000 euros must be converted into government bonds;
- prove the stability of a source of income and a dwelling on an island parcel of land;
- undergo the biometric identification process and provide all necessary documents, including proof of income and place of residence.
Please note that obtaining a “golden pass” will take some time, so starting the process in advance and collecting all necessary documents in time is recommended.
Benefits of Malta PR
The benefits of lifetime residency are apparent:
- stable economy and low taxes for foreigners;
- there are no terrorist organizations; the region is safe for everyone, including young children;
- children have the right to study at any university in the republic or choose an educational institution in one of the European countries;
- highly developed medicine, insurance, and many public and private clinics;
- advanced English language learning and improvement of skills;
- the possibility of visiting all EU countries without a visa;
- good conditions for starting a business;
- if one uses the tax system competently, one can save a lot of money, as well as receive certain benefits;
- one doesn’t have to be within the country all the time;
- status is available to all family members.
The republic is one of the top five areas with the most suitable migration microclimate among the European powers. Moreover, when you apply for Permanent Residence in Malta, you can access national-level education and healthcare services.
Transitioning from Permanent Residence to Citizenship
According to the legislation, Malta citizenship after residency is allowed to persons who have lived on the island for at least one year and have permanent residency status. As well as people who participate in the program and meet certain conditions, such as a deposit of at least 650,000 euros in various investment funds or buying real estate worth at least 350,000 euros within three years.
Citizenship is also granted in exceptional cases, for example, if a person with significant economic or social ties to the Carribean zone has been sued in another country.
To register oneself and one’s dependents as legal residents of the island, one needs to apply through an agency, undergo successful biometric checks, and ensure that the authorities have legal and clean sources of income.
In addition, specific requirements must be met to obtain a license, such as knowing the English language, having no criminal record, and having sufficient financial means to support oneself and one’s family.
According to a specialist of the company Immigrant Invest Zlata Erlach, the documentation processing usually takes 12 to 16 months, but there is an accelerated option for an additional fee.
Benefits of Maltese citizenship
For a person whose work or business is connected with international contacts and movement, obtaining a Maltese passport can have the following advantages:
- new prospects for business – the right to work freely, create and register companies, both on Maltese soil and in the EU;
- free movement within the European Union, and more than 180 powers without a pass;
- stable political and economic climate – the Caribbean region has a low unemployment rate;
- A well-developed field of education, including higher education, which is attractive to professionals such as doctors, lawyers, and engineers;
- the tax system is positively different from many others and, if handled correctly, can provide access to some financial benefits;
- high quality of life and health, favorable environment, and climate.
All in all, obtaining Malta citizenship can be an attractive and important investment for someone who is looking for new business and personal opportunities.
The Maltese state on the island of the same name entices many people. However, only the entirely affluent categories have a quick way to “legalize their relationship” with this republic. At the same time, it is an opportunity to permanently get rid of compliance with the laws of their country that are not satisfactory at the moment. Contact professionals to quickly and professionally resolve this issue.